Title: Commodity Tax of Financial Service Industry: Tax Burden Equilibrium and Tax System Reform
Abstract: The commodity tax system of China's financial service industry practices a different turnover tax system,compared with other industry businesses. It emphasizes the different of businesses inside the financial service industry ,and follows the principles of optimum commodity taxation theory by implementing differential tariff. However, its overemphasizing the difference of business is against the principles of tax equity and tax effectiveness. These should be very important macro conomic policies and measures for the development of financial service industry of China and the improvement of the competitive advantage of it to abolish the turnover tax system and practise value added tax system,to enlarge and unify the levy scope of commodity tax,to realize the transformation of preferential tax pattern,and to balance the tax burden between financial service industry and other industries and the tax burden inside the financial service industry as well.
Publication Year: 2004
Publication Date: 2004-01-01
Language: en
Type: article
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